Nautilus 2002 Annual Report Download - page 58

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available for future issuance under the plan. The plan is administered by the Company's Board of Directors which determines the terms and
conditions of the various grants awarded under these plans. Stock options granted generally have an exercise price equal to the closing market
price of the Company's stock on the day before the date of grant, and vesting periods vary by option granted, generally no longer than four
years.
A summary of the status of the Company's stock option plans as of December 31, 2002, 2001 and 2000, and changes during the years ended on
those dates is presented below.
2002 2001 2000
--------------------------- --------------------------- ---------------------------
Weighted- Weighted- Weighted-
Average Average Average
Exercise Exercise Exercise
Shares Price Shares Price Shares Price
Outstanding at beginning
of year 1,726,381 $ 12.79 1,694,195 $ 7.32 1,576,596 $ 2.67
Granted 275,075 33.25 691,650 19.50 805,275 12.43
Forfeited or canceled (39,242) 22.70 (91,901) 16.73 (201,375) 5.98
Exercised (362,227) 7.53 (567,563) 4.00 (486,301) 1.28
----------- ----------- ----------- ----------- ----------- -----------
Outstanding at end of
year 1,599,987 $ 17.26 1,726,381 $ 12.79 1,694,195 $ 7.32
=========== =========== =========== =========== =========== ===========
Options exercisable at
end of year 650,753 540,345 648,507
=========== =========== ===========
The following table summarizes information about stock options outstanding as of December 31, 2002:
Options Outstanding Options Exercisable
------------------------- -------------------------
Average Weighted- Weighted-
Range of Remaining Average Number of Average
Exercise Number Contractual Exercise Shares Exercise
Prices Outstanding Life (Years) Price Exercisable Price
$0.24 - $6.98 319,723 1.1 $ 4.30 281,472 $ 3.94
$13.56 - $13.78 614,664 2.7 13.65 229,797 13.61
$16.06 - $23.02 257,525 3.4 20.82 94,650 20.50
$24.28 - $30.42 166,500 3.8 25.21 44,834 25.17
$32.80 - $37.70 241,575 4.5 34.32 -- --
--------- --- ---------- --------- ----------
$0.24 - $37.70 1,599,987 2.9 $ 17.26 650,753 $ 11.23
========= === ========== ========= ==========
Refer to Note 1 for disclosure of pro forma results assuming the Company determined compensation cost on stock options granted under these
plans based on the fair value of the options consistent with that described in SFAS No. 123.
10. INCOME TAXES
The Company realizes income tax benefits as a result of the exercise of non-qualified stock options and the exercise and subsequent sale of
certain incentive stock options (disqualifying dispositions). For financial statement purposes, any reduction in income tax obligations as a result
of these tax benefits is credited to common stock.
-55-
2003. EDGAR Online, Inc.